Multibagger stock which is among the Largest welded-line pipe-manufacturing companies in the world jumped 3 percent in the day’s trade upon receiving a work order worth Rs. 3,670 Crores from Aramco.
With a market capitalization of Rs. 14,567 Crores, the shares of Welspun Corporation Limited were trading at Rs. 556.70 per equity share, up 1.32 percent from its previous day’s close price of Rs. 549.45. It has delivered multibagger returns of 110 percent in a year.
Welspun Corporation Limited’s associate company East Pipes Integrated Company for Industry (EPIC) has signed multiple contracts with leading Saudi Arabian Oil Company “Aramco” for manufacturing and supply of steel pipes for a consideration of SAR 1.65 Billion or Rs. 3,670 Crores. The work order should be executed within 19 Months.
EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities, impeccable track record of execution of mega orders, Quality, and customer-focused approach enables it to remain well-placed to secure further projects both in the Water and Oil & Gas sector and continue pioneering in supporting Kingdom of Saudi Arabia’s (KSA) strategic objectives under the Vision 2030
Welspun Corporation Limited is among the Largest Welded Line pipe-manufacturing companies in the world, engaged in the business of manufacturing and coating high-grade submerged arc welded pipe, hot rolled steel plates, coils, plastic products, and many more.
It has a strong Order Book of Rs. 9,056 Crores consisting of orders for Line Pipes (INDAS) for 528 KMT, DI Pipes for 328 KMT, and SS Bars & Pipes (MT) for 5,590 KMT.
Welspun Corporation Limited is among the top 3 line pipe manufacturers globally, with 5 manufacturing facilities in 3 countries. These pipes are used for offshore and onshore transmission of oil, gas, water, and many others.
Welspun Corp is evaluating various organic/ inorganic growth options in DI Pipes and Steel capacities along with downstream products, in Spiral/ Coating at new locations and in Sintex at various new locations.
Its Revenue from Operations grew by 9.61 percent from Rs. 4,070.15 Crores in Q4FY23 to Rs. 4,461.17 Crores in Q4FY24, accompanied by profits of Rs. 240.08 Crores to Rs. 287.28 Crores.
Written by: Bharath K.S
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